Read: Sherritt Agrees to Hand Majority Stake to Trump-Linked Investor as Cuba Sanctions Bite\u00a0<\/a><\/p>\n \t\t\t Cuba\u2019s fuel shortages<\/a>, worsened after the US cut off the country\u2019s access to Venezuelan oil in January, had already paused the Moa joint venture. US President Donald Trump then signed an executive order May 1 expanding sanctions to cover foreign actors in Cuba\u2019s metals, mining and energy sectors.\u00a0<\/p>\n Sherritt suspended its Cuban operations and repatriated staff May 7, and the Fort Saskatchewan refinery went idle once it burned through its remaining feedstock. It signed a non-binding rescue deal with Gillon Capital, a family office tied to former Trump adviser Ray Washburne, on May 20.<\/p>\n Gillon\u2019s deal is a warrant \u2014 the right, not the obligation, to buy a 55% stake at a discount within nine months, without putting in cash now. The Glencore group\u2019s offer puts equity in immediately<\/a>, at C$0.12 a share, doesn\u2019t depend on outside debt financing, and lets existing shareholders buy in on the same terms. Both structures would leave the winning group with at least 55% of the company.<\/p>\n Kyma Capital already holds more of Sherritt\u2019s debt and equity than any other investor, the consortium said in its formal proposal<\/a>, positioning it to help secure noteholder support other bidders can\u2019t match. Glencore\u2019s contribution would be technical, refining, marketing and critical-minerals expertise rather than capital.<\/p>\n Sherritt shares jumped 24% in Toronto trading Monday, valuing the company around $105 million. Washington has signaled it won\u2019t block either side from negotiating \u2014 <\/a>the State Department has told the consortium it doesn\u2019t object to talks with Sherritt<\/a>, though that falls well short of approving an actual deal. Sherritt reports second-quarter results Wednesday.<\/p>\n Information for this briefing was found via the sources and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.<\/p>\n","protected":false},"excerpt":{"rendered":"A consortium including Glencore (LSE: GLEN) has offered to recapitalize Sherritt International (TSX: S) and take control of…\n","protected":false},"author":2,"featured_media":113982,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[123],"tags":[10861,132,19843,55489],"class_list":["post-113981","post","type-post","status-publish","format-standard","has-post-thumbnail","category-glencore","tag-cobalt","tag-glencore","tag-nickel","tag-sherritt-international"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ch\/117076340607753995","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/113981","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/comments?post=113981"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/113981\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/113982"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=113981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=113981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=113981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n\t\t\t\t![\"Cambria](\"https:\/\/www.europesays.com\/ch\/wp-content\/uploads\/2026\/08\/creative-cambria-gold-mines-medium_rectangle-a1234a33.png\")
\n\t\t\t<\/a>
\n\t\t\t\t\t\t\tSponsored \u00b7 Cambria Gold Mines<\/p>\n